OECD: Employment and activity rates remain at record levels in Q3-2022

The employment and activity rate in the OECD area remained stable in the third quarter of 2022 at 69.5% and 73.2% respectively, their highest levels since the start of the series in 2005 and 2008, announced the Organization for Cooperation and Development. of economic development (OECD).

These two indicators have reached their record level in around 40% of OECD countries, the Paris-based international organization said in a statement.

The number of people in employment, as employees or self-employed, also reached an all-time high, at 607.9 million, it said, adding that the employment rate in the OECD area increased slightly for women. , in the third quarter of 2022, to reach 62.4% but it decreased for men, for the first time in two years, to reach 76.6%.

The activity rate in the OECD area reached its highest historical level for women and it remained stable for men at 80.6%, the same level as before the pandemic, notes the organization, adding that the rate of unemployment in the OECD remained at 4.9% in November 2022, the fifth consecutive month at this historical low point since the start of the series in 2001. This average rate, however, masks large differences between countries, the unemployment rate n having reached its lowest level than in Australia and France.

The unemployment rate in OECD countries fell slightly for women to 5.1% but remained stable at 4.7% for men. It also fell slightly for young workers (15-24 years old) but remained stable for workers aged 25 and over.

In the European Union and the Eurozone, the unemployment rate remained in November 2022 at historic lows of 6.0% and 6.5% respectively and outside Europe, more recent data show that in December 2022, this rate continued to decline in Canada to reach 5.0% (only 0.1 percentage point above its lowest level) and in the United States to reach 3.5%, a historical low point.

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